In recent years, the Hong Kong issue has been continuously fermenting, and the whole country and even the world are paying attention to Hong Kong. As you all know, Hong Kong is not big in size, but why is the economy so developed?
According to the statistics of the Hong Kong Statistics Department, financial services, trade and logistics, tourism, professional and business support services are the main traditional industries in Hong Kong. In the statistics of Hong Kong, there are separate statistics for these four traditional industries. "These four major industries drive the development of other industries and create employment, which is the driving force of Hong Kong's economy.".
In fact, these major industries are indeed driving the economic development of Hong Kong. In the ten years from 2005 to 2015, Hong Kong's GDP rose from HK $1.4 trillion to HK $2.4 trillion, of which four major industries accounted for about half.
Of course, one more pillar is the real estate industry in Hong Kong. The proportion of real estate in the economy is gradually increasing. Just look at the housing prices in Hong Kong. In the past, when mainlanders went to Hong Kong, what they valued was the positioning of Hong Kong's financial center. Developed financial services actually had a great attraction for international trade. But now let's look at the relevant news. Basically, it is the rich mainlanders who go to Hong Kong to buy luxury houses, thousand foot luxury houses and mid levels luxury houses. The prices are amazing.
However, traditional industries are both opportunities and shackles. Therefore, Hong Kong lacks advantages in science and technology competition in recent years. As a result, Hong Kong has broken its heart in attracting science and technology talents, and now it is starting to grab science and technology talents from all over the world.
In the history of Hong Kong's economic development, it has experienced two economic transformations. Before 1950, Hong Kong's economy was dominated by entrepot trade. From the 1950s, Hong Kong began to industrialize. By 1970, industrial exports accounted for 81% of the total exports, marking that Hong Kong had transformed from a pure entrepot into an industrialized city, realizing the first economic transformation of Hong Kong.
In the early 1970s, Hong Kong pursued the policy of economic diversification. Hong Kong's financial, real estate, trade and tourism industries developed rapidly. Especially since the 1980s, mainland factors have become the most important external factors to promote Hong Kong's economic development. Most of Hong Kong's manufacturing industries have been transferred to the mainland, and all kinds of service industries have achieved comprehensive and high-speed development, realizing the second transformation from manufacturing industry to service industry Second economic transformation.
In 2018, the gross domestic product at market price reached HK $2845.3 billion, with a year-on-year growth of 3% excluding the influence of price factors; the total income of local residents per capita at market price was HK $409900, belonging to a high-income economy. In 2018, the basic inflation rate was 2.6%, and prices were in a moderate growth trend. By the end of 2018, the working population was 3.978 million, and the unemployment rate was 2.8%, maintaining the state of national employment. The economic structure is dominated by the service industry, which accounts for more than 90% of GDP for a long time.
However, with regard to the current situation in Hong Kong, some experts have pointed out that it may cause the economy of Hong Kong to regress. I hope the chaos in Hong Kong can end quickly!